(a) To the extent that any business contributes to the Guam Basketball Confederation (GBC) to acquire the required equipment and make enhancements to facilities on Guam, as well as the training and transportation of the Guam Men’s National Team for FIBA Asia Cup competitions from 2019 through 2021, it shall be entitled to credit of business privilege taxes that are not already pledged for any purpose by Guam law. The basis for contribution to the project shall be the actual cost of the contribution plus the cost of transportation from the point of origin to its destination.

(b) Any unused credits not used in the current tax period may be carried over into three (3) subsequent tax periods only, and

COL 8/23/2023

12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 77 SPECIAL PROJECTS AND ACTIVITIES OF THE GUAM ECONOMIC DEVELOPMENT AUTHORITY

shall expire after the third (3rd) tax period has ended.

(c) The total credits allowed under this Article shall not
exceed the actual dollar amount of the expenditures on the project.

(d) The total credits allowed under this Article shall not be transferrable to any other business than the original recipient of the credits.